Startup profile for Opendoor: latest funding, latest known valuation, total disclosed funding, investors, status, sources, and why the company is interesting. Part of the Venture Capital Tracker startup directory.
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Opendoor funding, valuation and investors

iBuying pioneer—instant online home offers; public via SPAC December 2020 (NASDAQ: OPEN).

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Funding, valuation & investors

Answer-first snapshot

Latest funding

Series D

$210M · November 2016

Latest known valuation

Not publicly disclosed

Total disclosed equity funding

$210M

Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.

Current status

public

public · San Francisco, California

Investors in latest funding

Lead: Norwest Venture Partners

Other: New Enterprise Associates , Khosla Ventures , GGV Capital , Andreessen Horowitz

Latest tracked event: SPAC IPO (NASDAQ: OPEN) (December 2020). It is shown separately because it is not counted as disclosed equity funding.

Sources: latest funding Last verified: 2026-07-25

Overview

Opendoor, co-founded by Eric Wu with executive backing from Keith Rabois (Khosla Ventures), pioneered iBuying—offering homeowners instant cash offers online, buying and reselling homes with algorithmic pricing. The San Francisco company raised over $1 billion from top-tier VCs including Andreessen Horowitz, Khosla Ventures, NEA, Norwest Venture Partners, and GGV Capital. A $210 million Series D in November 2016 led by Norwest expanded market footprint per Opendoor press. In December 2020, Opendoor went public via SPAC merger with Social Capital Hedosophia Holdings II, trading as NASDAQ: OPEN. The company scaled to dozens of markets but faced profitability challenges as interest rates rose and housing turnover slowed.

Why Opendoor is interesting

Keith Rabois and Eric Wu bet algorithmic pricing could replace listing agents; Khosla, a16z, NEA, Norwest, and GGV funded scale before housing-rate shocks hammered the model post-IPO.

Product & use cases

Opendoor's app gives sellers instant home offers, handles repairs and resale, and charges spread/fees—replacing traditional list-and-wait workflows for motivated sellers.

  • Homeowners needing fast, certain sale timelines
  • Relocation and divorce-driven quick liquidity
  • Institutional-scale home flipping with data-driven pricing

Key facts

  • Series D (Nov 2016): $210M led by Norwest; NEA, Khosla, GGV, a16z (Opendoor blog)
  • SPAC IPO Dec 2020; NASDAQ: OPEN
  • $1B+ total venture funding before public listing
  • Co-founded by Eric Wu; Keith Rabois early executive/chair figure

Funding history (newest first)

SPAC IPO (NASDAQ: OPEN)

2020-12 Public listing via SCH merger

Source: https://www.opendoor.com/w/blog/opendoor-to-become-publicly-traded-company

Series D

2016-11 $210M

Source: https://www.opendoor.com/w/blog/opendoor-raises-210m-series-d

Investors in our directory

Funds linked from Opendoor's profile — open a fund page for stage focus and related deal articles.

Andreessen Horowitz Khosla Ventures New Enterprise Associates (NEA) Norwest Venture Partners GGV Capital

Competitive landscape

Edge: First scaled iBuyer brand with national marketing and integrated title/services—category creator advantage before Zillow Offers and others entered (and exited).

iBuying is capital-intensive and rate-sensitive. Opendoor survived where Zillow Offers failed but public markets punished inventory risk post-2022. Long-term win depends on pricing accuracy and cost of capital, not just UX.

  • Traditional real estate agents incumbent

    MLS listing model Opendoor disintermediates for convenience segment.

  • Offerpad direct

    Public iBuyer peer with similar buy-resell model.

  • Zillow (post Offers exit) adjacent

    Zillow exited iBuying 2021; remains lead gen partner/competitor.

Notable stories

  • Opendoor popularized 'iBuying' term and consumer marketing for instant offers.
  • Zillow Offers shutdown 2021 validated inventory risk concerns Opendoor continued navigating publicly.
  • SPAC route with Chamath Social Capital vehicle typified 2020 consumer-tech public exits.

Industries

PropTech Fintech Marketplaces

Related funding articles

Venture Capital Tracker pieces that cover Opendoor's financing or category context.

FAQs about Opendoor

Practical answers founders, operators, and investors typically search for.

Opendoor is an iBuyer that makes instant cash offers on homes, buys them, and resells after repairs—public company NASDAQ: OPEN.
Andreessen Horowitz (/fund/andreessen-horowitz), Khosla (/fund/khosla-ventures), NEA (/fund/new-enterprise-associates), Norwest (/fund/norwest-venture-partners), and GGV (/fund/ggv-capital) among backers.
December 2020 via SPAC merger with Social Capital Hedosophia Holdings II.
NASDAQ: OPEN.
Opendoor offers speed and certainty via instant offers; agents list on MLS for potentially higher price but longer timeline.
Eric Wu co-founded Opendoor in 2014.
Over $1 billion in venture funding including $210M Series D in 2016.
Historically not consistently profitable; check latest SEC filings for current financials—sensitive to housing market and rates.
Both are iBuyers with similar buy-fix-resell models in overlapping markets.
San Francisco, California.
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By Venture Capital Tracker

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